Eagle Mountain Mining Limited (ASX:EM2) has drilled further thick high-grade intercepts, including 22.5m at 2.84% Cu, 27.46g/t Ag and 0.48g/t Au at its 100% owned Oracle Ridge Mine Project in Arizona, USA.
Hole WT-21-40
WT-21-40 was drilled in the Western Talon area, testing extensions to mineralisation in hole WT-21-25 and following up on the positive results in WT-21-39, approximately 50 metres to the south.
The drill hole encountered a thick mineralised zone (69.5m at 1.60% Cu, 15.37g/t Ag and 0.30g/t Au) including a high-grade core of 22.5m at 2.84% Cu, 27.46g/t Ag and 0.48g/t Au.
Results from WT-21-40 significantly improve both continuity and grade from those in WT-21-25, approximately 50 metres to the east. WT-21-42 was drilled to the west of WT-21-40 and intersected mostly Q Sill and Leatherwood intrusives, suggesting that WT-21-40, similar to WT-21-39, was drilled “through” the Wave while WT-21-42 was drilled on the back side of the Wave with weak mineralisation encountered (similar to WT-21-43).
CEO, Tim Mason, said observations from WT-21-40 also support the current geological model for the Western Talon showing the Wave as a key feature in controlling alteration and mineralisation in the area.
“The recently discovered Wave Zone within The Talon target continues to demonstrate strong potential to increase Eagle Mountain’s JORC resource with thick zones of high-grade mineralisation. The Wave Zone is interpreted to extend well over 500 metres with outcropping mineralisation at the surface at the southern end,” Mr Mason said.
“Large portions of the Wave Zone remain untested, with the mineralisation also being open to the east. Due to these consistently strong results, drilling is focused along the Wave and we eagerly await further assay results in this prospective area.
“The Wave Zone represents part of the broader Talon anomaly which remains a prime exploration target supported by multiple strong results from drilling by both the Company and historic assays.
“Our entire geology team has worked diligently, completing remarkable work to identify the potential of this new zone, with the results to be incorporated into an updated JORC Resource planned to be completed in Q1 next year.”
Hole WT-21-39
WT-21-39 was drilled in the Western Talon area, testing extensions to mineralisation in historical holes C-113 and C-115 (Figure 5). The drill hole intersected two thick zones of skarn-hosted mineralisation interpreted to be the western extension of mineralisation in the historical holes. W
T-21-43 (assays pending) was drilled to the west of WT-21-39 and intersected thinner mineralised intervals than those in WT-21-39 and contains large sections of Q Sill and Leatherwood intrusives. These results suggest that WT-21-39 was drilled “through” the Wave while WT-21-43 was drilled mostly on the back side of the Wave and is thus less mineralised.
Observations from WT-21-39 support the current geological model for the Western Talon showing the Wave as a key feature in controlling alteration and mineralisation in the area.
Hole WT-21-38
WT-21-38 was drilled approximately 50 metres to the east of WT-21-29, targeting western extensions to mineralisation at the upper contact between the Wave and Sediments and steeper lodes hosted by the Sediments at depth. Four mineralised zones were intersected including 1.6m at 5.23% Cu, 2.42g/t Ag and 0.06g/t Au.
The lower concentration of silver and gold in the assays, together with geological observations by the Company, suggest that this mineralisation could be different, and possibly later in the geological history than the main event producing the skarn-hosted copper-silver-gold mineralisation.
WT-21-38 also confirmed the steep geometry of the sediments in the area, dipping to the east at a high angle.
Hole WT-21-37
A mineralised zone of 9.8m at 1.26% Cu, 11.34g/t Ag and 0.35g/t Ag was encountered in hole WT-21-37, which was drilled approximately 60 metres to the northwest of WT-21-31 targeting extensions to the mineralisation adjacent to the Wave.
The drill hole intersected approximately 30 metres of prospective sediments between the Q Sill and Leatherwood intrusives. This observation suggests that WT-21-37 was drilled close to the eastern side of the Wave and did not intersect the full thickness of the prospective sediments. Further drilling is planned in this area targeting the north-western and eastern extension to the mineralisation near the Wave.
Next steps
Three rigs are currently operating at the Oracle Ridge mine area with two at The Talon and one continuing the resource upgrade program in the northern part of the mine area. Drilling at the Talon will continue to focus on the Western Talon with the goal of drilling the entire length of the Wave to a spacing suitable for the estimation of an inferred resource.
The most recent resource upgrade holes were drilled using a larger core diameter (PQ). The additional material collected will be used in upcoming metallurgical studies. After the conclusion of the resource upgrade program, the rig will then remain in the area to complete a small programme designed to convert the existing Inferred resource to an Indicated resource after the next mineral resource update.
The mineral resource update is planned for completion by the end of Q1 2022. Assay results are pending for 18 holes at the mine area and 11 holes at Golden Eagle. The new core cutting saw has been installed and is currently operational at the Company’s logging facility in Tucson, Arizona.
Significant time and cost savings are expected from the operation of the dedicated core cutting saw when compared to outsourcing the same work to the assay laboratories.
For further information please visit: https://eaglemountain.com.au/
